Despite rising criticism from supporters, the EFL, and HMRC, Dejphon Chansiri’s attitude to selling Sheffield Wednesday appears to have remained unchanged.
Wednesday have been plunged into crisis following a nightmare few months under Chansiri’s ownership, with the club currently barred from paying transfer fees for the next three windows due to multiple late payments of player and staff wages, as well as five separate transfer embargoes due to a slew of other violations.
In a sign of the growing gravity of the situation at Hillsborough, it has been reported that the Owls are on the verge of being served with a winding-up petition by HMRC over an outstanding £1 million debt, and they are now believed to owe an additional six-figure sum, while it is unclear whether Chansiri has repaid or renegotiated a £7.4 million stadium loan.
If Chansiri is unable to settle the debt owed to HMRC, he may be forced to put Wednesday into administration; however, while this would result in an automatic 12-point deduction, which would be especially damaging given the club’s already looming points penalty for late wage payments, it could speed up the sale process.
Despite Chansiri’s reluctance to agree to a sale, a number of parties are believed to be interested in taking over the Owls, with former Crystal Palace co-owner John Textor confirming earlier this month that he is still looking to strike a deal to buy the club, while ex-Newcastle United chief Mike Ashley and businessman David Richards are both said to be keeping an eye on the situation.
Wednesday fans boycotted the 1-0 defeat to Middlesbrough at Hillsborough on Wednesday night in large numbers, and more protest action is expected in the coming weeks and months, but it appears to have little effect on Chansiri’s desire to sell.
A new update shows Dejphon Chansiri’s attitude on selling Sheffield Wednesday.
Negotiations with Chansiri appear to have been the main stumbling block to any sale of Wednesday in recent months, and despite a number of parties showing interest, The Star claims that many have “walked away frustrated at a confused process and an absence of any clear asking price”.
Chansiri is not thought to have given potential buyers any guidance on what kind of figure he would be willing to accept, and despite mounting pressure from supporters, the EFL, and HMRC, the Owls boss is not thought to have changed his approach to negotiations, with no takeover deal believed to be imminent at this time.
In a worrying insight into the situation, The Star spoke with a figure who has previously been involved in takeover deals, including at one of Europe’s biggest clubs, but when his US-based consortium attempted to contact Chansiri through a third party, their efforts to negotiate failed.
“We had a couple of potential parties who were interested in purchasing Sheffield Wednesday,” the anonymous source told The Star.
“In my naivety, I suggested that Chansiri was operating a process. In one case, we attempted to introduce a very respectable American party, well-funded with existing sporting interests across the pond, but he just refused to speak with them.
“It was foolishness, and I honestly don’t understand what he was trying to do. It’s simply the most weird procedure, and to call it a process is an understatement.
“You hear all kinds of numbers being thrown around, and no one appears to know what the true asking price is.
“The Americans stated they wouldn’t waste their time. There are individuals standing back, waiting to meet with an administrator.
“You encounter some unusual things in my area of business, but this circumstance doesn’t make sense. “I found it astonishing.”
Chansiri is reportedly demanding £100 million for Wednesday, but the source believes that £30 million would be a more realistic asking price for the club in their current situation, and as things stand, he has admitted that administration is the most likely outcome for the troubled South Yorkshire club.
“There are three possible outcomes here as I see it,” he elaborated.
“One, he can suddenly find a large sum of money to re-base the entire thing, which I believe is quite doubtful.
“Secondly, he gets up and sells the club at a price that is reasonable for a buyer. My immediate sense is that £30 million is an acceptable top-end price given the club’s potential, because you’ll need to spend that again to get the ground in good shape and restock the roster.
“But if this continues, I believe it will simply run out of funds and an administrator will be called in. At the moment, unless he comes to his senses, it appears to be the most likely scenario.
“Administration isn’t terrific; I can’t sit here and pretend otherwise, but it would restructure it such that it gets rid of him and takes things forward.
“I have no doubt that there would be interest in buying Sheffield Wednesday throughout the administration process. But this person is only making things worse with each passing day.”
The latest Dejphon Chansiri disclosure will only fuel Sheffield Wednesday’s wrath.
Wednesday fans have always felt that Chansiri has no actual intention of selling the club, and his latest words provide yet another disturbing glimpse into how difficult it is to bargain with the Thai millionaire.
If Chansiri is unwilling to significantly lower his asking price or engage in more serious discussions with interested parties, it will be nearly impossible for any of the Owls’ suitors to reach an agreement on a takeover while he remains in charge, strengthening the growing belief that administration may be the club’s only way out of their current predicament.
However, with Chansiri reportedly unwilling to put the club into administration in order to retain power at Hillsborough, it may be some time before a solution is found, resulting in additional suffering for Wednesday fans.
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